COMMISSIONER OF INCOME TAX Vs. MASONEILAN INDIA LIMITED

JUDGEMENT

(1.) THE Income-tax Appellata Tribunal, Cochin Bench (in short, "the Tribunal"), has referred the following question for opinion of this court under Section 256(1) of the Income-tax Act, 1961 (in short "the Act") :

(2.) THE dispute relates to the assessment year 1989-90 and arises in the following undisputed factual background : A return was filed on July 27, 1988, by the assessee, a public limited company. THE said return was signed by a person not named under Section 140 of the Act in relation to "company". Notice was issued under Section 154 of the Act to the assessee stating that since its return was not signed by the person permitted to sign it in terms of Section 140(c) of the Act, the return was non est, and all proceedings taken on the basis of that return are void ab initio. Such notice was issued for the years 1988-89 and 1989-90. THE assessee filed its objection stating that the return was filed by a person who was authorised to do so on the basis of a power of attorney.

(3.) IN order to appreciate the contentions raised, it would be appropriate to refer to certain provisions, more particularly Sections 140(c), 154 and 292B of the Act. Section 140(c) reads as follows :